Work Starts on 149-Unit Multifamily Development; Upscale Project in South Philly to Follow Soon

Mayor Michael Nutter, Philadelphia City Councilman Curtis Jones, Jr. and representatives of development company J.G. Petrucci broke ground last week on a new transit-oriented residential community located at 4862 Umbria Street, right next to SEPTA’s Ivy Ridge Rail Station.

Mayor Michael Nutter, Philadelphia City Councilman Curtis Jones, Jr. and representatives of development company J.G. Petrucci broke ground last week on a new transit-oriented residential community located at 4862 Umbria Street, right next to SEPTA’s Ivy Ridge Rail Station.

An earlier version of the project had been proposed by Mayor Nutter in 2005, when he served as a councilman in Manayunk City. According to PlanPhilly.com and NewsWorks, the original plan called for a 226-unit condominium that would have been constructed by a different developer as “Umbria Village.”

However, in November 2011 the eight-acre property was acquired by J.G. Petrucci Co. which slightly altered the project and now plans to develop a four-building complex with 149 rental units designed for young professionals, newly wedded couples, seniors or single residents. All units will feature 9-foot ceilings, granite countertops and stainless-steel kitchens. The $40 million project is now called “The Station’” and will be completed in about 12 months. This is J.G. Petrucci’s first development of this kind in Philadelphia.

Another multifamily project with 48 upscale apartments will soon begin in South Philadelphia. According to Philadelphia Inquirer, local developer Leo Addimando paid around $3 million for the former Catholic grade school at 12th and Wharton Streets, which was owned by the Archdiocese of Philadelphia. Tentatively dubbed “Wharton Street Lofts,” the project will also feature a huge roof deck with views to the adjacent Columbus Square Park, nearly 40 parking spaces and interior storage for 50 bicycles.

The Passyunk Post says that plans call for 37 one-bedroom units averaging 750 square feet, 9 two-bedrooms of around 1,040 square feet and 2 three-bedroom units of 1,750 square feet each. Work is scheduled to start in the first quarter of 2013 and it will take about one year.

Rendering of The Station project courtesy of J.G. Petrucci Co. website